South Dakota Codified Laws 51A-3-31. Indemnification of officers, directors, or employees
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A bank may indemnify by purchase of insurance or otherwise any current or former officer, director, employee or agent, his heirs, personal representatives and successors in interest in the same manner and to the same extent as a business corporation may indemnify, pursuant to the provisions of §§ 47-1A-101 to 47-1A-863.3, inclusive, 47-1A-1001 to 47-1A-1021, inclusive, and §§ 47-1A-1201 to 47-1A-1202.6, inclusive.
Terms Used In South Dakota Codified Laws 51A-3-31
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Source: SL 1969, ch 11, § 3.25; SL 1970, ch 265, § 24; SL 1988, ch 377, § 74; SDCL § 51-17-28; SL 2005, ch 202, § 21.